“That is the fifth 12 months CB Insights has acknowledged probably the most promising personal synthetic intelligence corporations with the AI 100, and this is likely one of the most international teams we have ever seen. This 12 months’s cohort spans 18 industries, and is engaged on all the pieces from local weather threat to accelerating drug R&D,” stated CB Insights CEO Anand Sanwal. “Final 12 months’s AI 100 corporations had a exceptional run after being named to the checklist, with greater than 50% occurring to lift extra financing (totaling $5.2B), together with 16 $100 million+ mega-rounds. Many additionally went on to exit through M&A, SPAC or IPO. As trade after trade adopts AI, we anticipate this 12 months’s class will see comparable ranges of curiosity from traders, acquirers and prospects.”
“Riiid’s inclusion on the checklist validates our drive to use AI to create a customized studying expertise and empower international training gamers to rethink conventional instruction,” stated YJ Jang, co-founder and CEO of Riiid. “We had been based to make exponential adjustments in training and we’re certainly pioneering a brand new paradigm. The coronavirus pandemic created an ideal storm for Riiid to offer its proprietary AI applied sciences to fulfill the demand for the best high quality distant studying resolution.”
Via an evidence-based method, the CB Insights analysis workforce chosen the AI 100 from a pool of over 6,000 corporations based mostly on a number of elements together with patent exercise, investor high quality, information sentiment evaluation, proprietary Mosaic scores, market potential, partnerships, aggressive panorama, workforce power, and tech novelty. The Mosaic Score, based mostly on CB Insights’ algorithm, measures the general well being and development potential of personal corporations to assist predict an organization’s momentum.
Riiid, based mostly in South Korea, options AI know-how that analyzes scholar information and content material, predicts scores and person habits, and recommends personalised research plans in real-time to assist college students obtain their studying potential. Riiid gives a cell take a look at prep app for a well-liked English proficiency examination that’s utilized by greater than two million college students in Korea and Japan and reached No. 1 in gross sales amongst training apps in these markets. As well as, Riiid Labs, the corporate’s international arm based mostly in Silicon Valley, has partnered with training corporations together with Kaplan, ConnecME, Grupo INICIE, and Casa Grande to mix Riiid’s AI know-how and the content material supplied by these corporations, creating personalised studying cell apps in Korea, Egypt, UAE, Turkey, Saudi Arabia, Jordan, Brazil, Colombia, and Puerto Rico.
To generate analysis and entice prime AI expertise to training, final 12 months Riiid efficiently launched the inaugural Riiid AIEd Problem, carried out on Google’s Kaggle platform. Greater than 3,390 groups from 90 nations participated — probably the most of any 2020 Kaggle algorithm competitors hosted by a enterprise entity. Riiid additionally hosted an AI in training workshop on the thirty fifth annual AAAI convention with audio system together with Thomas Frey, DaVinci Institute; Elizabeth Bailey Kozleski, Stanford Graduate Faculty of Schooling; Martha Kanter, CEO of Faculty Promise and former U.S. Below Secretary of Schooling for the Obama Administration; and Kumar Garg, Schmidt Futures Basis.
Fast information on the 2021 AI 100:
- Fairness funding and offers: Since 2010, the AI 100 2021 cohort has raised over $11.7B in fairness funding throughout 370+ offers from greater than 700 traders.
- 12 unicorns: Corporations with $1B+ valuations on the checklist span functions as diversified as information annotation, cybersecurity, gross sales & CRM platforms, and enterprise search.
- Geographic distribution: 64% of the chosen corporations are headquartered within the US. Eight of the winners are based mostly within the UK, adopted by six every in China and Israel, and 5 in Canada. Different nations represented on this 12 months’s checklist embody Japan, Denmark, Czech Republic, France, Poland, Germany, and South Korea.
About CB Insights
CB Insights (www.cbinsights.com) builds software program that allows the world’s greatest corporations to find, perceive and make know-how choices with confidence. By marrying information, skilled insights and work administration instruments, shoppers handle their end-to-end know-how making course of on CB Insights.
Riiid (www.riiid.co) is a world chief in AI options for training, backed by greater than $70 million (USD) in funding. The corporate is driving a paradigm shift in training with know-how that personalizes instruction for all college students, with the goal of democratizing high quality training wherever on the planet. Riiid launched its first AI tutor resolution based mostly on deep studying algorithms in 2017, rapidly rising to primary in training app gross sales in Korea and Japan with greater than two million customers. The app, referred to as Santa, makes use of AI to assist college students put together for the English language competency examination TOEIC. As a number one pressure in AI know-how, Riiid has revealed analysis papers at prime AI conferences together with NeurIPS and CSEDU. The corporate has utilized for greater than 98 patents, 27 of that are registered. In 2020, Riiid established Riiid Labs (www.riiidlabs.ai), the corporate’s international arm based mostly in Silicon Valley, California, to broaden its enterprise throughout the U.S., South America, Center East and past. Riiid additionally gives Santa for SAT, Santa Realtor to organize actual property brokers for certification and supplies its proprietary AI tutor module as a B2B resolution to enterprises.
About Born2Global Centre
Born2Global Centre (www.born2global.com) is a full-cycle service platform for international growth. Since inception in 2013, Born2Global has been setting the usual for profitable startup ecosystem as the principle Korean authorities company below the Ministry of Science and ICT. Born2Global has expanded and reworked startups to be engaged, geared up and be linked with the worldwide market.
SOURCE Born2Global Centre